Penbrook Management LLC Decreases Position in Hercules Capital, Inc. $HTGC

Penbrook Management LLC lowered its stake in shares of Hercules Capital, Inc. (NYSE:HTGC) by 41.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 14,563 shares of the financial services provider’s stock after selling 10,419 shares during the quarter. Penbrook Management LLC’s holdings in Hercules Capital were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of HTGC. Farther Finance Advisors LLC increased its stake in shares of Hercules Capital by 79.5% during the 1st quarter. Farther Finance Advisors LLC now owns 4,292 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 1,901 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Hercules Capital by 2.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 32,832 shares of the financial services provider’s stock worth $631,000 after purchasing an additional 628 shares during the last quarter. North Star Investment Management Corp. increased its stake in shares of Hercules Capital by 2.2% during the 1st quarter. North Star Investment Management Corp. now owns 53,604 shares of the financial services provider’s stock worth $1,030,000 after purchasing an additional 1,154 shares during the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Hercules Capital by 9.5% in the 1st quarter. Cornerstone Wealth Management LLC now owns 23,470 shares of the financial services provider’s stock worth $451,000 after buying an additional 2,029 shares during the period. Finally, Catalina Capital Group LLC purchased a new position in Hercules Capital in the 1st quarter valued at approximately $255,000. Hedge funds and other institutional investors own 19.69% of the company’s stock.

Hercules Capital Stock Up 2.5%

Shares of NYSE:HTGC opened at $17.12 on Tuesday. The firm has a fifty day moving average price of $19.01 and a two-hundred day moving average price of $18.39. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.68 and a quick ratio of 1.68. Hercules Capital, Inc. has a one year low of $15.65 and a one year high of $22.04. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 11.33 and a beta of 0.96.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. Hercules Capital had a net margin of 51.46% and a return on equity of 16.54%. The firm had revenue of $137.46 million during the quarter, compared to the consensus estimate of $129.47 million. During the same period last year, the firm earned $0.51 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. Analysts anticipate that Hercules Capital, Inc. will post 1.96 EPS for the current fiscal year.

Hercules Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 11.0%. This is an increase from Hercules Capital’s previous quarterly dividend of $0.40. Hercules Capital’s payout ratio is presently 105.96%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Citigroup reiterated an “outperform” rating on shares of Hercules Capital in a research note on Monday, August 4th. Piper Sandler reduced their price objective on shares of Hercules Capital from $21.00 to $20.50 and set an “overweight” rating for the company in a research note on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Hercules Capital in a research note on Wednesday, October 8th. JMP Securities lifted their price objective on shares of Hercules Capital from $22.00 to $24.00 and gave the company a “market outperform” rating in a research note on Monday, August 4th. Finally, UBS Group lifted their price objective on shares of Hercules Capital from $18.50 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

About Hercules Capital

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.